While the distressed share of the Orange County housing market continues to grow at a quick pace, it’s unlikely that all the properties will come on the market at the same time, says Steve Thomas of Altera Real Estate in his latest bi-weekly report of the local real estate market.
He says:
“This shadow inventory has to be worked through, but [...]
Broker: No tsunami of repo’d homes to hit market is a post from: Mortgage Insider
The Center for Responsible Lending in a report this week urges policy makers to avoid what it deems to be unnecessary foreclosures by taking these steps:
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Require mortgage servicers to fully consider loan modification applications before starting the foreclosure process. That’s the heart of California bill SB 1275, which was passed by the state Senate and now is before the [...]
Study: How to stop unnecessary foreclosures is a post from: Mortgage Insider
More and more people out there are not paying what they owe, whether it’s the mortgage check for this month or a home equity loan from a couple of years ago when they were feeling flush enough to splurge on cars, boats or whatever they wanted.
.
Are there no consequences?
One foreclosure expert says they seem to come only from ”the [...]
Why so many are playing debt ‘roulette’ is a post from: Mortgage Insider
A waterfront Newport Beach home that reverted to the lender in May at $7,790,000 and went back on the market at $10,900,000 has sold for $9,050,000.
The 5,000-square foot, Cape Cod-style house at 2706 Bayshore Drive has 4 bedrooms and 6 baths and sits on a 7,026-square foot double lot.
The property is behind a guard gate and 2 [...]
Banked-owned Newport home sells for $9 million is a post from: Mortgage Insider
Some observations on foreclosures and the difficulty in getting credit from Glenn Kelman, CEO of Redfin.com:
“The short story is that the real estate market is stagnant, mostly because home-buyers can’t get credit, and sellers can’t get enough money for their house to pay off the bank,” he writes in his latest roundup.
Excerpts:
“Foreclosures Continue to Decline: Have Banks Lost [...]
Money is cheap, but ‘most people can’t get it’ is a post from: Mortgage Insider
According to CoreLogic’s latest late-mortgage report, 7.56% of Orange County home-loan borrowers as of June are 90 days-plus late with their house payments. That’s +1.33 percentage points or [...]
Late mortgage rate up 21% in O.C. is a post from: Mortgage Insider
On Monday we showed cities with high and low shares of distressed properties in the Orange County market, according to a bi-weekly analysis by Steve Thomas of Altera Real Estate.
Here are all cities:
.
City
Active Listings
Foreclosures
& short sales
% of Active Listings
Aliso Viejo
220
119
54.1%
Anaheim
519
307
59.2%
Anaheim Hills
207
58
28.0%
Brea
125
48
38.4%
Buena Park
177
80
45.2%
Corona Del Mar
184
18
9.8%
Costa Mesa
220
71
32.3%
Coto De Caza
117
17
14.5%
Cypress
119
42
35.3%
Dana Point
312
60
19.2%
Dove Canyon
22
4
18.2%
Foothill Ranch
50
20
40.0%
Fountain Valley
141
40
28.4%
Fullerton
431
145
33.6%
Garden Grove
305
128
42.0%
Huntington Beach
697
174
25.0%
Irvine
812
180
22.2%
La Habra
179
90
50.3%
Ladera Ranch
163
86
52.8%
Laguna [...]
Your city’s share of distressed homes is a post from: Mortgage Insider
Orange County’s inventory of foreclosed homes and short sales has grown the most this year in the past 2 weeks, says Steve Thomas at Altera Real Estate, who does a bi-weekly analysis of the local real estate market.
He says:
“The active distressed inventory grew by 150 homes over the past two weeks and now totals 3,457 total foreclosures [...]
O.C. distressed homes up 35% is a post from: Mortgage Insider
Orange County highlights from ForeclosureRadar’s latest report:
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Notices of default in June were significantly less than a year ago but slightly higher than May.
Notices of trustee sale — or foreclosure auctions – shot up in June compared to both May and last June.
Fewer homes reverted to lenders or were sold to investors in June than in the other 2 periods.
Month
NOD
NTS
Back to
bank
3rd party
sale
Jun-10
1,419
2,126
369
194
May-10
1,408
1,616
543
254
Jun-09
2,831
1,731
640
270
.
As ForeclosureRadar [...]
O.C. foreclosure notices surge is a post from: Mortgage Insider
A waterfront Newport Beach house foreclosed in May at $7,790,000 and put back on the market that month with an asking price of $10,900,000 is now pending sale.
Wow, that was quick!
$10 million homes — or ones with asking prices of $2,180 a square foot — aren’t exactly flying off the market these days.
The 5,000-square foot, Cape [...]
$10 million Newport foreclosure sells is a post from: Mortgage Insider
